Information-Concealing Credit Architecture
收藏NBER2025-04-01 更新2025-04-12 收录
下载链接：
https://www.nber.org/papers/w33658
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资源简介：
When the value of a pledgeable asset (or project) is uncertain, investors are tempted to examine it. The information cost is ultimately borne by the asset owner, reducing her financing capacity. A pecking order emerges. Debt generates a greater financing capacity than equity: unlike equity investors
提供机构：
美国国家经济研究局
创建时间：
2025-04-01
